What is a fair farm rental agreement?

Landlords, Farmers, Agri-Business Professionals should make plans to attend one of the informative meetings being held across Minnesota. These free meetings are being provided by the University of Minnesota Extension. Farm land rental rates are the largest input cost the farmer has. Determining a fair farm rent agreement is a challenge in today’s economy with current significantly lower corn and soybeans prices in 2018.

Negotiating a fair rental agreement that satisfies the land owner and the farmer is a challenge. David Bau and Nathan Hulinsky, Extension Educators in Ag Business Management, will provide several ways by examples, factsheets and worksheets to determine a fair farm land rental rate for both parties.

Topics covered at the meetings will include local historic and projected farmland rental rate trends, current farm land values and sales, and a worksheet that will help determine a fair rental agreement. Input costs for 2018 will be presented along with current 2018 corn and soybean prices. Worksheets will examine 2019 costs and what is affordable rent that a farmer will be able to pay in 2019, the rate of return to the landlord at current market values and examine flexible rental agreements.

Make plans to attend one of these meetings now. Attendees will receive several informative worksheets and factsheets that will help to determine what a fair 2019 farm land rental rate is.

The meetings will be held locally at:

Olivia, November 26th at 9:30 a.m. – County Government Center
Willmar, November 26th at 1:30 p.m. – Mid Central Research and Outreach Center
Gaylord, November 28th at 9:30 a.m. – Sibley County Service Center
Hutchinson, November 28th at 1:30 p.m. – Hutchinson Event Center
Cologne, December 14th at 9:30 a.m. – Carver County Public Works Building
Litchfield, December 19th at 9:30 a.m. – Meeker County Courthouse
Buffalo, December 19th at 1:30 p.m. – Wright County Courthouse

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